Bank Of America Posts $1 Billion Loss In Third Quarter

Do you hate Bank of America? Well take today’s earnings report and wallow around in it like Ann-Margret in beans, becuse the bank has posted a loss of $1 billion before dividends to preferred shareholders—”When those dividend payments are included, the loss was $2.24 billion,” reports the New York Times.

It’s not exactly a high point for Ken Lewis to go out on, and it might be why Lewis agreed to forfeit the $1.5 million salary he earned in 2009.

“Bank of America Posts a Loss and Misses Forecast” [New York Times]
“Czar Blocks BofA Chief’s Pay “ [Wall Street Journal]
(Photo: TheTruthAbout…)